Wednesday Top Crypto News In one short thread…

Yesterday, the spot Bitcoin ETFs saw $196M in net outflows, marking four consecutive days of net outflows, led by Fidelity ETF FBTC ($99.11M out). Ethereum spot ETFs recorded a total net inflow of $73.22M, led by BlackRock’s ETHA with an inflow of $88.77M.

A governance proposal reveals that MetaMask plans to collaborate with Stripe to launch a U.S. dollar stablecoin called MetaMask USD (mmUSD), which is intended to be issued and settled off-chain via the M^0 network and natively integrated across MetaMask's services. Though as of now, neither MetaMask nor Stripe has officially confirmed the plan.

Amanda Fischer, former SEC chief and staff assistant to Gensler, recently published an article claiming that liquid staking carries similar risks to the "double staking" practices at Lehman Brothers before its collapse, potentially triggering a systemic collapse in the crypto industry.